Financial Tips for Women From Women: Helping You Succeed

In celebration of International Women’s Day, who better to give women financial advice than female financial professionals? With nearly 50% of Mercer Advisors client-facing associates being women, we asked some of them to share their top financial tips.

1.  Go for it

• Whether it’s applying for that promotion, booking the big trip, investing in yourself, saving for a big purchase or project – I want to help empower women to feel confident with their wealth management so they can ‘go for it’ in life!

  
  Laura Combs, CFP®, MBA
  Executive Managing Director

2.  Invest in yourself

• Financial independence: Prioritize building your own wealth — having control over your finances means having control over your choices.
• Saving for the future: Pay yourself first; automate savings and invest early to let time and compound growth work in your favor.
• Investment basics: Understanding risk and diversification is an important part of investing, not just for the wealthy, but for everyone who wants to build wealth.

  
  Jojo Cresci, CFP®
  Sr. Wealth Advisor, Sr. Director

3.  Value your contribution

• Don’t forget to fund your retirement account. Even if your spouse is the one working outside the home, you can still fund your retirement account with “earned income”, regardless of who makes the income.
• I love this quote from Glennon Doyle: “Hard work is important. So are play and nonproductivity. My worth is tied not to my productivity but to my existence. I am worthy of rest.”

  
  Emily Messegee, CFP®
  Wealth Advisor, Sr. Director

 4.  Enjoy your free time

• Create a financial plan that works for you so that that you can be free to spend your mental energy elsewhere — on things you really love. Practice being joyful and grateful every day. Go outside in the morning.

  
  Carrie Beede, CFP®, CDFA®, EA
  Sr. Financial Planner

5.  Protect your legacy

• Be aware of account titling, which designates ownership, especially as it relates to your estate plan. You may think you have a joint account, but it’s only in your name, your spouse’s, or your child’s. If you have a living trust, you may need to retitle accounts or update beneficiaries to avoid disinheriting loved ones. Also, have a list of login information included in your estate planning documents.

  
  Jaimi Dennehy
  Sr. Wealth Advisor

6.  Be cautious not fearful

• There’s a Russian proverb that means “trust but verify”, which can be applied to protecting your financial security, including during a divorce. Additionally, always keep $1,000 cash in your ‘purse’, basically your savings account, for unexpected situations.

  
  Sharon Littell
  Sr. Client Service Specialist

7.  Stay involved

• Don’t become complacent just because your significant other may be managing the accounts, doing the taxes, paying the bills, or handling other financial matters. Stay involved and understand what is going on, so that in case of a death, a divorce, or a disablement of some type, you are prepared to step in and be active without skipping a beat.

  
  Chris Lang
  Client Service Specialist

At Mercer Advisors we believe strongly in empowering women financially — to help amplify and simplify your life. Get started with a unified in-house team of advisors, planners, investors, accounts, and estate strategists who can design and execute your financial plan.

If you are not a Mercer Advisors client and want to know more about how we serve women’s specific needs, let’s talk.

Mercer Advisors Inc. is a parent company of Mercer Global Advisors Inc. and is not involved with investment services. Mercer Global Advisors Inc. (“Mercer Advisors”) is registered as an investment advisor with the SEC. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements.

All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change. Some of the research and ratings shown in this presentation come from third parties that are not affiliated with Mercer Advisors. The information is believed to be accurate but is not guaranteed or warranted by Mercer Advisors. Content, research, tools and stock or option symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or to engage in any particular investment strategy. For financial planning advice specific to your circumstances, talk to a qualified professional at Mercer Advisors.

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

The CDFA® and Certified Divorce Financial Analyst marks are the property of the Institute for Divorce Financial Analysts, which reserve sole rights to their use, and are used by permission.